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Article: Fitch Comment: Insurer/Reinsurer Loss Exposures to U.S. Attacks; Initial Assessment of Damage to Financial Positions.
- Article from:
- Business Wire
- Article date:
- September 17, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
CHICAGO & LONDON--(BUSINESS WIRE)--Sept. 17, 2001
In a statement issued today, Fitch, the international rating agency, said that, while it is too soon to draw solid conclusions, it believes that a vast majority of the insurers and reinsurers it rates will be able to absorb any losses without material damage to their financial positions. This is due to the generally very high levels of financial strength and credit quality maintained throughout the insurance and reinsurance industries. Further, to the extent there are insolvencies, Fitch believes these would be limited to smaller insurers or reinsurers that are faced with undue risk ...